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In the USA, can you lose your home even after it is 100% paid off? (lemmy.ml)

submitted 1 year ago by Confidant6198@lemmy.ml to c/asklemmy@lemmy.ml

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Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

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[–] ElleChaise@kbin.social 1 points 1 year ago (3 children)

I don't know how it is everywhere, but in multiple areas I've lived, you can't just build your own house anymore. You either go outside of city limits and pay to get utilities out there, pull permits, the whole nine, or you buy a premade piece of crap cookie cutter house in the city, which usually comes with some form of HOA. Unless you got big bucks, most people simply can't afford a house outside of an HOA of some kind anymore.

[–] Death_Equity@lemmy.world 5 points 1 year ago

That is highly dependent on the state. In every state, the majority of homes are not HOA. The worst is Florida with 45% of homes in an HOA, but the majority of states are under 20%.

[–] PP_BOY_@lemmy.world 2 points 1 year ago

What kind of shithole do you live in?

[–] bluGill@kbin.social 1 points 1 year ago

Pulling utilities is not that expensive. Sure it is tens of thousands ,but in a development it is nearly that much, you just don't realize it as those costs are bundled in. You get some of that back because rural areas allowed manufactured houses which are cheaper. (Careful, there are good manufactured houses, but the industry has earned their terrible reputation)